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How does SBI scholar loan work?
SBI Scholar Loan Scheme repayment terms The repayment period begins after the course completion + 12 months and the loan is to be repaid in 15 years. Note: In case a second loan is availed for higher studies in the future, the combined loan amount is to be repaid in 15 years after completion of the second course.
What is the process of getting education loan in SBI?
Checklist of Documents to be submitted along-with duly filled Loan Application Form
- Mark sheet of 10th, 12th, Graduation (if applicable), Entrance Exam Result.
- Proof of admission to course [ Offer Letter/ Admission Letter/ ID card if available]
- Schedule of expenses for course.
Is Passport required for SBI Scholar loan?
Student applicant: Address proof: Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhaar Card (any one). The submission of passport is mandatory for education loan application for higher studies outside India.
Which bank is best for abroad education loan?
Top Education Loans Providers in India for Study Abroad
- HDFC Bank. HDFC Bank offers education loans with preferential interest rates for reputed universities.
- State Bank of India.
- Axis Bank.
- Punjab National Bank.
- Bank of Baroda.
- Canara Bank.
- IDBI Bank.
- Avanse Financial Services.
What is SBI Scholar Scheme?
State Bank of India, Scholar Loan Scheme: SBI provides 100\% financing for pursuing higher education in premier institutions at zero processing fees. ServicesNDTV Profit Team Updated: May 28, 2019 1:18 pm IST. SBI Scholar Loan: State Bank of India allows repayment period of loan up to 15 years.
Is SBI Scholar loan mandatory?
Although it benefits you in a lot of ways, If you plan on borrowing an SBI education loan for abroad studies and are asked to purchase the SBI Rinn Raksha loan insurance by your lending branch, please keep in mind that this formality is not compulsory. It is solely the student’s choice to opt for it.
What is difference between scholar and student loan?
There are many SBI education loans that also offer interest concessions for girl students. The bank provides SBI loan for abroad as well as for colleges in India….SBI Education Loan Interest Rates.
| Schemes | Maximum Loan Amount | Interest Rates |
|---|---|---|
| SBI Student Loan | Rs.20 lakh | 10.05\% |
| SBI Scholar Loan | Rs.40 lakh | 7.95\% to 9.25\% |
Does we make scholars charge?
No fee: As WeMakeScholars is an initiative under the Digital India campaign, there is no fee charged for any of the services. Cashback: A cashback reward of up to INR 3000 will be offered for choosing and supporting the Digital India initiative.
How can I get loan from SBI for admission in NIT?
You have to go nearby SBI bank with photocopy of all the documents which you have given during counselling and have to give during admission in nit ,along with fee structure and talk to manager for the same. They will approve your loan for 5 year on full subsidy. Processing charge for loan is approx two thousand.
What are the requirements to apply for SBI scholar loan?
You must keep in mind that expenditure does not exceed 25\% of the SBI Scholar Loan amount. Expenditure beyond 25\% cap is permissible subjected to production of voucher/ receipt for the same. Letter of admission along with completely filled in Loan Application Form. 2 recent passport size photographs.
How much time does it take to get a loan from SBI?
With SBI there is no middle ground if you know somebody there it will processed in less than a week where there is no collateral, for collateral based loans it will take 15 days to 1 month For faster processing you can go with Credila or Avanse or other private Banks
Which is the best student loan in India for higher education?
The State Bank of India (SBI) Scholar loan scheme is another great offering by the bank. You can avail this loan for pursuing higher education in selected premier institutions in the country. It offers a low interest rate and a flexible loan repayment tenure.